Russian Finance Minister Anton Siluanov on Wednesday said a price of $45 per barrel of oil was "balanced" for both suppliers and consumers.
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In an interview with the Rossiya-24 state TV channel, he also said that budget revenues from oil and gas sales had dropped by 18 percent this year due to weaker prices.
Benchmark Brent crude oil front-month futures currently trade at over $56 per barrel.
(Reporting by Vladimir Soldatkin; Editing by Kevin Liffey)